Page 3 - Housing Sector

Sundaram Home expands presence in Chennai zone; aims Rs 50 cr disbursements

Sundaram Home Finance, a wholly owned subsidiary of non-banking finance company Sundaram Finance Ltd, has expanded its presence under the Emerging Business segment in the city, aiming to disburse Rs 50 crore over the next 12 months in the Chennai zone. The company inaugurated a new branch in Ambattur after establishing its first branch in Tambaram in January this year. In the Chennai zone, the company expects to register disbursements of Rs 50 crore. Sundaram Home Finance has already clocked disbursements of over Rs 200 crore in the Emerging Business segment and is looking to double this amount over the next 12 months, the company said. Commenting on the inauguration of the Ambattur branch, Sundaram Home Finance MD D Lakshminarayanan said, "Ambattur is rapidly growing into a separate township with increasing industrialization and a large number of manufacturing and IT firms in the area. We have been witnessing fast-paced infrastructure development in and around Ambattur." "In addit

Housing demand stays strong, prices to rise above inflation: Credai chief

Housing demand continues to be strong and is expected to grow further on the back of tax incentives offered in the Budget and a recent repo rate cut, CREDAI President Boman Irani said. CREDAI is an apex body for private real estate developers. In an interview with PTI, Irani asserted that there are no signs of demand slowdown in the Indian housing market, rather it will continue to rise in the long-term horizon. However, he said there could be an impact in some markets that are "over-heated" but overall at pan-India level there are no concerns at all on the growth going up only. Short-term blips in a real estate cycle is not something that we need to worry about. We need to see long-term growth," he told PTI in Nashik, where CREDAI recently organised its two-day conference. Asked whether the frenzy and euphoria seen in the last three calendar years has subsided, Irani said, "I don't think so." He cited the property registration data of Mumbai market for February this year to prove

India's housing finance struggles with regional disparities, warns NHB

As of 30 September, 2024, individual housing loans outstanding stood at Rs 33.53 lakh crore, reflecting a 14 per cent growth compared to the previous year

Housing prices rise 10% in Oct-Dec in 8 cities, Delhi-NCR tops list: Report

Housing prices appreciated at an average of 10 per cent during the December quarter across eight major cities on strong demand, higher input cost, according to a report by CREDAI, Colliers and Liases Foras. Realtors' body CREDAI, real estate consultant Colliers India, and data analytic firm Liases Foras on Tuesday released their joint report, which showed that Delhi-NCR saw a maximum appreciation of 31 pc annually during the October-December period of 2024. "Interestingly, average housing prices have been on a rising spree for the 16th consecutive quarter, starting 2021," the report said. Price appreciation was evident in all the eight major cities. CREDAI National President Boman Irani said, "The sustained growth in housing prices underscores the strong confidence among homebuyers, driven by a preference for spacious living and lifestyle upgrades." "While evolving preferences and lifestyle upgrades remain key motivators, cost pressures in construction and land acquisition are als

Arkade Developers aims for Rs 740 cr from redevelopment project in Mumbai

Real estate company Arkade Developers on Wednesday said it has bagged redevelopment rights for a co-operative housing society in Mumbai and it is expecting Rs 740 crore revenue from this upcoming residential project. In a regulatory filing, the company informed that it has "secured the redevelopment rights for Nutan Ayojan, a co-operative housing society in Malad West, marking another milestone in its strategic expansion across Mumbai's prime micro-markets." The project, spanning 6,858.90 square metres, is expected to generate a Gross Development Value (GDV) of about Rs 740 crore. The total saleable RERA carpet area is 2.33 lakh square feet. Upon completion, the project will offer 408 homes, out of which about 215 units will be available for sale, further expanding its residential and commercial footprint. Amit Jain, Chairman and Managing Director of Arkade Developers, said, "Aligned with our broader vision, we aim to capitalise on high-growth micro-markets through redevelopment, .

Housing sales in top 15 tier-II cities rise 20% to Rs 1.53 trn: PropEquity

Housing sales across 15 top tier-II cities rose 20 per cent in value terms last calendar year to more than Rs 1.52 lakh crore on higher volume and price appreciation, according to PropEquity. Real estate data analytics firm PropEquity on Wednesday released the data for 15 major tier-II cities where total housing sales rose 4 per cent to 1,78,771 units in 2024 from 1,71,903 in the preceding year. In value terms, the sales increased 20 per cent to Rs 1,52,552 crore in 2024 from Rs 1,27,505 crore in 2023. These 15 cities are -- Ahmedabad, Surat, Vadodara, Gandhi Nagar, Nashik, Jaipur, Nagpur, Bhubaneswar, Mohali, Visakhapatnam, Lucknow, Coimbatore, Goa, Bhopal and Trivandrum. As per the data, housing sales rose the most in Coimbatore at 36 per cent and fell maximum in Visakhapatnam by 21 per cent in 2024. Bhubaneswar recorded the highest growth in sales value at 47 per cent while Nashik recorded a 2 per cent decline in sales value. Samir Jasuja, Founder & CEO, PropEquity, said, ..

Budget 2025: PPP, asset monetisation open door for private sector

FM proposes Rs 1.5 trn outlay for 50-yr interest-free loans to states for capex

Housing prices to moderate at 3-4% in FY26 on high base effect: Ind-Ra

Housing prices are likely to rise 3-4 per cent next fiscal on high base effect and better supply, according to India Ratings and Research (Ind-Ra). The rating agency expects the housing price rise to taper in the 2025-26 financial year. Ind-Ra expects property prices to increase 5-6 per cent year-on-year (YoY) in 2024-25 fiscal, then moderate to 3-4 per cent YoY for 2025-26, due to base effects and new launches. Prices surged 21 per cent YoY in 2023-24 with old stock cleared and existing inventory largely liquidated, the agency said. Ind-Ra has maintained a neutral outlook for the residential real estate sector for the next fiscal. "Growth in bookings is likely to reduce significantly due to the high base, high prices and a likely slowdown in the luxury segment," it said. The residential real estate market is expected to register a strong performance in 2024-25, where the sales growth will be around 17 per cent YoY in terms of area sold (square feet of area sold) and around 15 pe

Arvind SmartSpaces to develop new township in MMR, eyes Rs 1,500 cr revenue

Realty firm Arvind SmartSpaces Ltd has entered into a joint development agreement to build a 92-acre township with an estimated revenue potential of Rs 1,500 crore. In a regulatory filing on Friday, the company said it has signed an agreement for a large horizontal, multiuse project in Mumbai Metropolitan Region (MMR), "with a total estimated area of 92-acre and a top-line potential of Rs 1,500 crore." The company has tied up with Sach Developers to build this township, located near Khopoli, Mumbai. The project is signed under a joint development model (70.5 per cent revenue share) enabling low capital intensity and higher returns. Kamal Singal, Managing Director and CEO, Arvind Smartspaces said, "We are happy to announce our entry into the Mumbai real estate market, marking a significant milestone in our growth journey. We are confident of the large opportunity the MMR plotted/villa market presents and look forward to bring our horizontal value proposition there." He said the ent

Housing sales drop 9% in 9 major cities to 471k units in 2024: PropEquity

Housing sales across nine major cities dropped 9 per cent to nearly 4.71 lakh units in 2024 on lower demand as well as fall in fresh supply, according to PropEquity. Data analytics firm PropEquity, part of listed entity P E Analytics, on Wednesday released the housing data for nine major cities namely Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR, Mumbai, Navi Mumbai, Pune and Thane. As per the data, the sales of residential properties declined 9 per cent to 4,70,899 units during 2024 from 5,14,820 units in the preceding year. New supply fell 15 per cent to 4,11,022 units in 2024 on the back of two quarters of under-activity due to general elections and monsoon. Samir Jasuja, CEO & Founder, PropEquity said, "The drop in housing supply and sales in 2024 is due to the high base effect, as 2023 was a peak year." "A detailed analysis of the numbers reveals that despite the drop, the supply to absorption ratio in 2024 remains the same as 2023 which indicates that the fundamentals .

Sales of homes priced below Rs 50 lakh fall 14% in 2024 in 7 cities: JLL

Sales of apartments, costing less than Rs 50 lakh each, fell 14 per cent to 38,626 units in 2024 across seven major cities on lesser launches of affordable housing projects and rising prices, according to JLL India. Real estate consultant JLL India data showed that sales of apartments across seven major cities during 2024 witnessed sustained growth, reaching a record-high volume of 3,02,867 units, up 11 per cent from 2,71,818 units in the preceding year. The seven cities are Mumbai (including Mumbai city, Mumbai suburbs, Thane city, and Navi Mumbai), Delhi-NCR (including Delhi, Gurugram, Noida, Greater Noida, Ghaziabad, Faridabad and Sohna), Bengaluru, Pune, Chennai, Hyderabad and Kolkata. The data includes only apartments. Rowhouses, villas, and plotted developments are excluded from the JLL India analysis. Among different price categories, sales of apartments costing less than Rs 50 lakh each fell to 38,626 units from 45,160 units. In the Rs 50 lakh1 crore price category, the s

New home prices in China flat for first time in 18 months after govt push

Beijing rolled out a slew of measures in the second half of last year to stabilise the real estate market, including cutting mortgage rates and allowing local governments to buy unsold housing units

LA rental hits nearly $40,000 a month as fires swirl housing market

Since evacuees are naturally looking for residences close to their burned properties, the competition is fiercest in areas that were already tight

Gaurs Group's pre sales up at Rs 4,800 cr in Apr-Dec 2024 on strong demand

Realty firm Gaurs Group has reported around 4-time jump in its sale bookings to Rs 4,786 crore during the April-December period of this fiscal on strong demand for its residential properties in Delhi-NCR. With strong performance in the first nine months of this fiscal, Gaurs Group now figures among the top real estate developers, including both listed and non-listed firms, in the country in terms of sale bookings. The robust performance is largely attributed to the successful launches of two luxury projects, including Gaur 'NYC Residences' located at Wave City, Delhi-Meerut Expressway, and Legacy by Gaurs in Greater Noida, the company said. Sarthak Gaur, Director of Gaurs Group, said, "The remarkable turnover of Rs 4,786 crore in the first three quarters of 2024-25 is a testament to the strength of our portfolio. Completely selling out 2 projects one after the other in a matter of 2-3 days is no mean achievement and we are very proud to be in that league." Manoj Gaur, Chairman and

Max Estates sells luxury residential properties worth Rs 845 cr in Noida

Realty firm Max Estates Ltd on Friday said it has sold luxury residential properties worth Rs 845 crore in Noida amid strong demand. In a regulatory filing, Max Estates said its subsidiary Max Estates 128 Pvt Ltd has successfully launched the second phase of its residential project 'Estate 128' in Noida. "Building on the success of the first phase, the second phase has achieved a pre-sales booking value of Rs 845 crore within a week of its launch, and has surpassed the company's original guidance of Rs 800 crores as the booking value potential for this phase," Max Estates said. The company did not disclose the number of units it has sold for Rs 845 crore and the price per apartment. The project, combining both phases, now comprise four towers with 268 units, spanning 10 acres and a total booking value of about Rs 2,700 crore. Max Estates said it has already achieved a booking value of about Rs 5,000 crore in the first nine months of 2024-25. This performance is well within the ...

Goldman Sachs sees Nifty at 27K in 2025, bets on housing, defence stocks

Analysts identified 16 'oversold' stocks, each down over 20%, including Trent, IndiGo, Shriram Finance, and Havells, suggesting they present strong buying opportunities

Silver lining: How senior living market is redefining retirement in India

The first of a four-part series on the silver economy focuses on luxury housing projects developed with seniors in mind

Realty, infra firms say CRR cut positive for sector, will infuse liquidity

RBI's decision will enable banks to have more funds to lend, they say

Signature Global eyes taking over Noida's stalled projects to expand biz

Realty firm Signature Global is looking for land in Noida and Greater Noida to expand the business and will explore taking over stalled housing projects as well provided there are no legacy litigations. Signature Global, which got listed in 2023, has a significant presence in the Gurugram market of Delhi-NCR. In an interview with PTI, Signature Global founder and Chairman Pradeep Aggarwal said, "We want to expand our business in Delhi-NCR beyond the Gurugram market. We are looking for land parcels in Noida, Greater Noida and Yamuna Expressway." The company will participate in land auctions conducted by development authorities of these three regions, he added. That apart, Aggarwal said, "We are also looking to take over stalled housing projects in Noida. The Noida authority has come up with a co-development policy to revive stalled projects. A couple of projects have been approved under this new policy." Aggarwal, however, said the company will take over stalled housing projects,

Senior housing boom: South Indian cities drive 60% of market growth

South India is emerging as the hub for living projects for the older population, accounting for 60 per cent of total market share, north Indian cities comprise just 20 per cent, the west holds 16 per